Toyota to Take on Honda Insight With New Hybrid, Nikkei Reports

I guess this was bound to happen.

By Bill Koenig
March 13 (Bloomberg) -- Toyota Motor Corp. plans to develop a new hybrid car costing less than 2 million yen ($20,436) to compete with Honda Motor Co.’s Insight, Nikkei English News reported, without saying how it obtained the information.
The new model will be as much as 30 percent cheaper than Toyota’s Prius hybrid car, which starts at 2.33 million yen, Nikkei reported.

Source;
http://www.bloomberg.com/apps/news?pid=20601101&sid=aLMrNb_93dbk&refer=japan